Dutch lender ABN AMRO has completed the acquisition of BUX, a growing European neobroker, about seven months after entering into the deal. The announcement today (Wednesday) confirmed that completion came following regulatory approvals and the completion of the transactions.

A Push to Enter the Retail Investment Space

Despite the acquisition, BUX will continue to operate as a separate entity from its parent company, ABN AMRO. However, the BUX logo will feature the bank's endorsed logo to symbolize the backing.

By acquiring BUX, the Dutch bank has expanded its grip in the retail investment space. The acquisition positions the combined entity as the number one platform for new investors in the Netherlands.

“In combination with BUX, we can help clients begin to take control of their financial future at an early stage in their lives,” Annerie Vreugdenhil, Chief Commercial Officer Personal & Business Banking of ABN AMRO, said. “BUX has made this extremely easy through their innovative and user-friendly platform. We cannot wait to build on that and improve our offering for future generations.”

A Growing Neobroker

Established in 2013, BUX is headquartered in the Netherlands and offers services across Europe, including Belgium, France, Germany, Spain, Italy, Austria, and Ireland. According to the company, it has about 500,000 clients across Europe.

“Through this collaboration, we combine ABN AMRO's extensive expertise in personal finance and investing, and its years of experience with the capabilities offered by BUX's accessibility, knowledge of future generations, and user-friendly investment platform,” said the CEO of BUX, Yorick Naeff. “This allows us to better serve the new generation of investors while maintaining our speed, agility, and unwavering commitment to innovation.”

The acquisition came when fintech companies were growing at a tremendous pace. Recently, Revolut revealed that it closed 2023 with a pre-tax profit of £438 million, pivoting from a loss of £25.4 million in the previous year. Its revenue also surged by 95 percent to £1.8 billion.